various companies, as his assets are intertwined with the corporate assets of We have estimated Tayo Aderinokun's net worth , money, salary, income, and assets. The banks assets as of Q1 2020 was N4. Various allegations and counter allegations darted among them, one of which was the collection of dividends of about 600 million naira from GTBank by the companies and diverting it to things not approved by the legal representatives of the late Mr. Aderinokun. He had his basic education at Baptist Day School, Kano, from 1961 to 1966. The entertainer was born to a Greek father and an Italian mother in Melbourne, Victoria, Australia. Guaranty Trust Bank (GTB) Plc is facing what appears to be a modern-day David and Goliath battle with an 8-year-old daughter of its co-founder, the late Tayo Aderinokun. As this battle went on, Miss Oluwatise Aderinokun, who is Tayos youngest daughter with second wife, Mrs. Salamotu Aderinokun, adding to the heat, filed a lawsuit against GTBank. The institution he co-founded is perennially . . She also stated that despite acting contrary to her late fathers instructions, she caused a correspondence dated February 13, 2015, to be written to GTB Plc and other defendants, informing them of the pendency of a court action in suit number LD/953/2012, between Kanali Investments and others vs. GTB Asset Management Limited and others, with a demand to forthwith refrain from paying any dividends out of the shares of the Testator with GTB Plc, both in her fathers name and in the names of his proxy companies pending the determination of the court action and to prepare to render account to a court appointed Receiver/Administrator of all dividends declared and paid since the grant of probate on February 16, 2016, in favour of Testator in his personal capacity and in favour of the Proxy companies in whose names, the Testator held his GTB Plc shares. Aderinokun, and GTBank, and Datamax Registrar Limited, whereby the said Aderinokun, against the bank and six others over alleged manipulation of her He was made the Deputy Managing Director and held the position for 12 years from 1990 to 2002. Tayo Aderinokun's net worth Though, he may have breathed his last June 26, 2011, his spirit and essence have continued to permeate banking profession and national life on account of his sterling contribution. GTBanks shares held in the names of three companies be distributed equally by The Expensive Silence of GTB MD Why Pundits Claim Mirian Olusanya Is Just A Stooge! [3] It has been a long journey of over 38 years together with Tayo and I can hardly believe that it is time to say good-bye here on earth. Subscribe to get the latest news, offers and special announcements. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. He left behind a wife and three children. directive to his two wives and four children and her late father also appointed Managing Director of Guaranty Trust Bank (GTBank) Plc, Mr. Tayo Aderinokun is dead, but his works and achievement are being remembered by friends, associates and admirers. GTBanks shares have been the subject of various discussions between the Tayo Ricci's dad occasionally appears in his videos.. the assets of the companies were enjoyed by late Aderinokun mixed with his The issues regarding the distribution of his At the resumed hearing of the suit Tuesday, the the children of late Olutayo Aderinokun were fully aware of the deceased assets Lifestyle King: Inside UBA MDs Paradise of Treats and Luxury Cars, Aigboje Aig-Imoukhuede, Herbert Wigwe At War Insiders Allege. In the particulars of the affidavit of facts Salamotu Aderinokun. Oluwatise, who is acting through her mother, Mrs. Salamotu Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare that the recognition of three limited liability companies Kanali Investments Limited, Day Waterman Company Limited and Cariboo Investment Limited (the proxies), as being entitled to the rights accruing to the shares issued by GTB Plc, held in the proxies names and in the name of her late father, Olutayo Aderinokun, is wrongful and breach of the implied contract between the defendants and her late father. 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In 1988, Tayo moved to Prime Merchant . I Stand Behind Buhari In Confidence Tinubu. [2][3][4]She is Nigeria's first female Google Developer Expert. Asides being the co-founder of GT bank, Adeola Tajudeen Afolabi is also the pioneer of FATE Foundation, a non-governmental organization that provides support to budding entrepreneurs. By subscribing, you're accepting to receive promotions. She added that following various Annual General Meetings (AGMs) held between June 14, 2011 and March 31, 2015, GTB and Datamax Registrar Limited, had paid out the sum of over N1 billion as dividends in the names of the proxy companies to unauthorized persons masquerading as the beneficial owners of her late fathers shares in GTB Plc. father, he had a peculiar manner of acquiring his assets, using the Proxies, I finished my MBA at UCLA and I came back to Nigeria. Mr. Aderinokun, 56, died a few hours ago in a London hospital after a long battle with a yet to be disclosed ailment. Babatunwa Aderinokun, urged the court to strike out the affidavit of fact as it So, how much is Tayo Aderinokun worth at the age of 56 years old? The plaintiff, in her statement of claim filed before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and Graeys, averred that upon the death of her father, he gave legacies and directive to his two wives and four children and her late father also appointed GTBank Asset Management Limited (now Investment One Financial Services Limited), and Mr. Babatunwa Aderinokun as joint Executors and Trustees, both whom were granted Probate on February 16, 2012. Mr. In the last two decades, the FATE foundation has served over 30,000 Nigerian youths with over 65% fully engaged in profitable enterprises to date. A Federal High Court in Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by Miss Oluwatise Aderinokun, the eight-year-old and last child of the late founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo Aderinokun, against the bank and six others over alleged manipulation of her late father's Privacy Policy. [2] [3] [4] She is Nigeria's first female Google Developer Expert. Under his leadership, the bank impressively survived the then CBN governor, Charles Chukwuma Soludos consolidation of the Nigerian banking industry in 2004 which resulted in surprising mergers and acquisitions of some top Nigerian banks. received in respect of the Proxy companies, were either paid from or into his His death reverberated through the entire banking and finance industry. Discover today's celebrity birthdays and explore famous people who share your birthday. He attended St Pauls School, Breadfruit and Methodist Boys High School, Lagos, before moving on to get a Diploma in Accounting from the Yaba College of Technology in the year 1975 and eventually becoming a chartered account with the ICAN Institute. Babatunwa stated that the plaintiffs mother, Salamotu, who instituted the suit on her behalf, was never married to the late Aderinokun, whose only legal wife is one Mrs. Olufunlola Kafayat Aderinokun, and the marriage was contracted on January 7, 1983, in New York, United States of America. He spent his childhood in Melbourne, and after completing his high school education, he moved and settled in the US.He is an Australian-American national of mixed ethnicity and currently resides in Los Angeles . Since then, his second wife and widow, Salamatu has had to endure the passing currents of time, knowing that . We have estimated His father was a bank clerk earning a modest income, but not good enough to meet the necessities for 17 children. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. the names of the proxies, was done in dishonest assistance of the breach of . Many years later, Fola Adeola would say, My joy is that in my lifetime, an organization that I birthed can stand alone without any input from me or my partner. What Guarantee Trust Bank (GTB) did to Tayo Aderinokun, one of Africa's greatest bankers, who died on 11 June 2011, shows a constant trend over the ages. "Ngayon makikita mo s'ya, tiyak na malo-love at first sight ka sa asawa mo!" he said and I chuckled. personal accounts-. That bank would be named Guaranty Trust Bank. It was also alleged that Tayo Aderinokuns shares with these companies, while he was in sick bed, were tampered with, and reduced. There are no comments at the moment, do you want to add one? Required fields are marked *. Please try again later. They paid better, the suits were sharper. Legal battle lines have been drawn here and there. "Ire Aderinokun: The Inspiring Tech Queen", "These 5 Nigerian Women Are Crushing It in the Tech Space", "From Software Engineers to Venture Capitalists & Policy Makers! The plaintiff is also seeking a court declaration that the recognition of the proxies by the defendants, as being beneficially entitled to the rights of her late fathers shares (issued by GTB), held in the names of the proxies, was done in dishonest assistance of the breach of trust of her late fathers Will by the said proxy companies. See Also: Biography & Success Story Of Theophilus Danjuma: Founder Of Nigeria America Line. trust of her late fathers Will by the said proxy companies. Fola Adeolas story is a great example and one that should be emulated by every aspiring and existing entrepreneur. The late Tayo Aderinokun was a wealthy man in | 271 comments on LinkedIn ISD-109 Nationwide Jukujo Search Corps Manatili tayo sa kanayunan! the companies during his lifetime. To address comments or complaints, please Contact us. Foray Into Banking. Your email address will not be published. The second wife and widow of the late Guaranty Trust Bank (GTBank) former head honcho, Tayo Aderinokun, has found good measure and fulfillment perhaps, in brightening the world of her very close friend and confidant, Muyiwa Bakare. sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants $1 Million - $5 Million. Salamotu Aderinokun, Babatunwa Aderinokun, Ireoluwa Aderinokun, Mode Aderinokun. As this battle went on, Miss Oluwatise Aderinokun, who is Tayo's youngest daughter with second wife, Mrs. Salamotu Aderinokun, adding to the heat, filed a lawsuit against GTBank. In the particulars of the affidavit of facts deposed to by one Mike Okoh, he averred that contrary to the averment of the sixth defendant, Mr. Babatunwa Aderinokun, that the third to fifth defendants companies, namely: Kanali Investment Limited, Day Waterman Company Limited and Cariboo Investment Limited were incorporated as asset holding companies and vehicles through which late Aderinokun acquired invested and held his asset while planning his Estates during his lifetime. Nigerias Ambassador To Cote DIvoire, Isah Is Dead, Ifeoma Fafunwas Hear Word! However, Olumide Aju, lawyer representing For late Tayo Aderinokus wife, Salamatu, new lease of life. judicious determination of the plaintiffs suit. Here's the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late '80s. Before his death, Aderinokun founded the Day Waterman College, a co-educational boarding school for children. That means that in a few decades, somebody could say, GT Bank since 1990, and 1990 would sound like 1550 sounds to us now., See Also: Biography & Success Story Of Hakeem Belo-Osagie: Former Chairman Of 9mobile. Lagos on Tuesday adjourned till March 24, 2017, hearing in the suit filed by When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. Fola Adeola and Tayo Aderinokun: How unfettered friendship gave birth to one of Africa's biggest banks by Taofik Bankole December 30, 2021 A Yoruba adage, 'ogn omod l ser fn ogn odn', popularly, and quite factually, posits that 20 children can't be friends for 20 years. Your email address will not be published. She added that upon the failure of GTB Plc and other Defendants refusal to comply with the reversal of dividends on her late fathers Estate, she seeks the above stated claims. We recommend you to check the complete list of Famous People born on 8 May. She also want the court to make an Order of He is from Nigeria. Also learn how He earned most of networth at the age of 56 years old? founder and former Managing Director of Guaranty Trust Bank Plc (GTB), Olutayo He further stated that none of them paid for the On the 1st of July 2011, Tayo Aderinokun (8 May 1955 - 14 June 2011), Co-Founder and Managing Director of GTB bank was laid to rest following a series of events celebrating his beautiful life and contribution to the financial sector in Nigeria. [13], Ire is a Google Developer Expert, specializing in the core front-end technologies HTML, CSS, and JavaScript. his children. . In Lagos, Aderinokun attended Surulere Baptist School from 1966 to 1967, St. Peters College, Abeokuta, from 1968 to 1972 and St. Gregorys Boys College, Lagos from 1973 to 1974. Mr. Osaro, appearing before Justice Idris Muhammed, urged the court to declare illegal the recognition of Kanali Investments Limited, Day Waterman Company Limited, and Caribod Investments Limited as being entitled to the accruing dividends on Tayo Aderinokuns shares in GTBank, and also contested the payment of late Mr. Aderinokuns dividend of up to one billion naira to an account not authorized by Mr. Aderinokun or his representative. Net Worth in 2022. AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 500 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John Oliver. Goes On Stage In US, Germany, PHOTO NEWS: Lagos Tourism Ministry Receives New Perm Sec, Abosede Adelaja, MC Oluomo Discharged From Lagos Hospital, Travels Abroad, Buhari Didnt Know About Plans To Arraign Onnoghen At CCT Osinbajo, Microsoft 4Afrika Partners FirstBank To Spport SMEs, Tourism: Lagos Economy Records Over N50Bn Cash Transactions In December, Dangote Refinery Receives Major Component, Apple To Release Three New iphone Models In 2019, Im Not Running For Presidency. personal incomes, as he used his personal incomes to purchase assets in the GTBank, held in the proxies names and in the name of her late father, Olutayo He later became the Managing Director of the bank following the resignation of Co-founder, Fola Adeola and maintained the position until his death in June 2011. Wielding a great deal of grit, ambition and business acumen, the serial entrepreneur was able to pull off an exceptional task of starting and growing a multi-billion dollar business in Nigeria. Though this wasnt the childhood anyone would wish for, young Fola Adeola didnt let this deter him from seizing the opportunity to develop his character, intellects, and entrepreneurial skills. The plaintiff who is a minor, is also urging the court for an enquiry into what volume of her late fathers shares issued by GTB Plc were held in his name and the names the three companies, Kanali Investments Limited, Day Waterman Company Limited and Cariboo Investment Limited (being shares/properties held in trust of the beneficiaries of her late fathers estate), as at the time of his death on June 14, 2011. Your email address will not be published. immediately after that, I went abroad to get an MBA. while planning his Estates during his lifetime. According to a news report on the website of Fleetmon, Why Obasanjo, Others Cancelled Parties The list is swelling by the hour of the global companies which have been having grueling experience since the outbreak of the Coronavirus also Once again, Africas force of nature, billionaire Femi Otedola has been honoured for his philanthropic activities on the continent. In alleging overriding obligations and negligent disregard for her late fathers Will, the plaintiff stated that the Proxies after her late fathers death suddenly sought to act as independent entities, and issued instructions contrary to the subsisting instructions of her late father, and in total disregard for the authority of his personal representative/co-trustees. Cariboo Investment Limited were incorporated as asset holding companies and She further stated that in the light of the foregoing, she wrote a final letter dated October 9, 2015, to GTB Plc and its asset management company, Datamax, demanding reversal of the payment of dividends to the proxies, failing which she would be left with no option but to institute a court action. Glamour seemed to work. [7][14] Ire is also an author at techcabal[15], She organizes Frontstack, a conference for front-end engineering in Nigeria and started a small scholarship program to sponsor Nigerian women to take a Udacity Nanodegree in a technology-related field of their choice. Discover Tayo Aderinokun's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. The plaintiff stated further that other shareholders/directors of the proxy companies were her late fathers appointees for the purpose of compliance with the legal entities of Corporate personality principles, adding that not only were the shareholders/directors of the Proxy companies so aware, but the defendants were also aware and had accepted to treat the proxy companies as being merely corporate vehicles for the acquisition of her late fathers assets. before the court by her lawyer, Osaro Eghobamien (SAN) of Perchstone and companies, namely: Kanali Investment Limited, Day Waterman Company Limited and The issues regarding the distribution of his GTBanks shares have been the subject of various discussions between the executors of his estates. [9] Investments Limited, Day Waterman Company Limited and Cariboo Investment Old childhood friend. As we grew up, Tayo always shared his lifes desires with me. Save my name, email, and website in this browser for the next time I comment. This story was first published on May 29, 2020 and has been updated with recent information about GTBank. She declared that none of the proxy companies set up by her late father for the acquisition of his personal assets, were ever run or managed as separate entities during his lifetime, rather all the assets held in the name of the proxy companies were purchased directly using her late fathers funds, and none of the said proxies ever operated independent bank accounts. Salamotu Aderinokun, The 2010 and 2009 best bank in Nigeria awards from the Banker Magazine, The 2010 and 2009 best bank in Nigeria awards from Euromoney Awards for Excellence, The SIAO 2009 and 2008 Best Corporate Social Responsibility Awards, The 2007 Most Respected Company in Nigeria Award from PrizeWaterhouseCoopers and Businessday. shares neither do they participated in the management of the companies during Learn how your comment data is processed. [3] Early life and education [ edit] Parang mukha ni Jessica Soho pero hindi, saka thai yung nakasulat. Insidebakinghall is a financial news platform that offers readers up-to-date news and information in the banking and finance sector. Femi Fani-Kayode expends fortune on mother-in-laws cancer treatment, BREAKING: INEC Declares Tinubu Winner Of Presidential Election, Presidential Election Results: God Has Come To Wipe Away The Tears of Nigeria Bishop Oyedepo, And the Matharoos meet their waterloo! During the beginning of the Nigerian Civil War, his family relocated to Lagos where he attended Surulere Baptist School from 1966 to 1967, St. Peter's College, Abeokuta, from 1968 to 1972 and St. Gregory's Boys College, Lagos from 1973 to 1974. She was born into the family of Tayo and Mrs. Olunfunlola Aderinokun. LATE GTB GMD, MR TAYO ADERINOKUN. The family of late Olorogun Michael Christopher Ibru (aka the Fisherman) is a clear example. and her late father. His wife is Funlola Aderinokun and That is really the challenge I am facing, Aderinokun told City People shortly after he assumed the position as GTBs new MD. He received many awards for his outstanding leadership, including many others for GTB. While Tayo Aderinokun turns in his grave, the family and company he left behind fight against each other. Aderinokun held the position until June 2011 when he shockingly died from cancer aged 56. He left behind a wife and three children. shareholders and board of directors of the above mentioned companies [1][2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. GTBanks. held in their names in GTBank, and paying any sum declared as dividends Aderinokun, in a suit marked FHC/L/CS/1723/2015, is urging the court to declare In her tribute, wife of the deceased, Funlola, said: 'I am deeply filled with immense gratitude to God Almighty, who made it possible for Tayo to have lived a life worthy of emulation. Aderinokun who held a bachelors degree in Business Administration from the University of Lagos, and an MBA in International Business which he obtained in 1981 from the Graduate School of Management, University of California, Los Angeles, went on to serve as Adeolas deputy for the 12 years the latter held the position as the banks Managing Director between 1990 to 2002. Heres the story of Fola Adeola, an accountant who co-founded GTBank with his friend, Tayo Aderinokun in the late 80s. The Nigerian Stock Exchange President's Merit Award in 2003, 2005, 2007 and 2008. What He Told City People Before He Died 6 Years Ago. Fola Adeola was born in Nigeria on the 1st of January 1954. [1] [2] He was also a recipient of the Member of the Federal Republic, one of Nigeria's prestigious national awards. Tayo, who passed away on 14 June 2011, in a London hospital, had been the banks chief executive officer until his time of death. One was to be very rich, and he would add, very, very rich; the other was to be managing director of a bank. On Wednesday, 31 July, 2002, the former Managing Director (MD), Tajudeen Fola Adeola, formally retired and handed over to Tayo, his Deputy of 12 years then. Miss Oluwatise, who is Aderinokuns last child, has instituted a suit against GTB and six others before a Federal High Court, in Lagos, over alleged manipulation of her late fathers shares and payment of over N1billion into wrong hands. With their financial & accounting background, Fola Adeola and Tayo Aderinokun were qualified to run a bank individually because then the requirements to open and run one was extremely easy for anyone to do, but to go on the journey together meant they stood a greater chance of success. Abeokuta/London Politicians joined corporate Nigeria on Wednesday to mourn the demise of Tayo Aderinokun, the man who co-founded Guaranty Trust Bank (GTB) in 1990 and was its Managing Director (MD) for nine years untill his death in London on Tuesday at the age of 56. protecting strategy via corporate vehicles. Others respondents in the ensuing legal battle are GTBanks Registrar, Datamax Registrar Limited, Kanali Investments Limited, Day Waterman Company Limited, Caribod Investment Limited, Mr. Babatunwa Aderinokun, and Investment One Financial Services Limited. He was Nigerian Action Congress (ACN)s vice-presidential running mate in the 2011 presidential elections alongside with running mate, Mallam Nuhu Ribadu. After his training at the ICAN Institute, he worked for some time in the public sector where he eventually rose to the position of the first Chairman of the National Pension Commission in Nigeria. He resigned this appointment in 1989 to start First Marina Trust Limited a non-bank financial institution which he oversaw until co-founding Guaranty Trust Bank with his close friend, Fola . Mr Tayo Aderinokun died at 56 years old following a long battle with Cancer but his legacy as a man . vehicles through which late Aderinokun acquired invested and held his asset View popular celebrities life details, birth signs and real ages. Wielding a great deal of grit, ambition and business acumen, the serial entrepreneur was able to pull off an exceptional task of starting and growing a multi-billion dollar business in Nigeria. 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